The board may, in its discretion, abandon a merger, subject to the contractual rights, if any, of third parties, including other constituent corporations, without further approval by the members at any time before the merger is effective.
Cal. Corp. Code § 12537
Merger
Known as the Cooperative Corporation Law
The act spans §§ 12200–12704 (266 sections).
Added by Stats. 1982, Ch. 1625, Sec. 3
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.